what is the best time of the year to purchase a home?

Asked by Coffeemon, Yuba City, CA Fri Sep 9, 2011

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9
Christopher…, Agent, Tarrytown, NY
Sun Sep 11, 2011
Hi, it really depends on your needs. The most popular time to sell is usually spring which also brings more buyers out. If you are looking for less competition usually the summer months and winter months tend to be less busy. Mortgage rates are at amazing all time lows right now and home prices have dropped in many areas so I would say that should be an indicater that now is a great time to buy.

Chris
Web Reference:  http://raveis.com/chrispagli
0 votes
Scott Thiel, Agent, South Lake Tahoe, CA
Sun Sep 11, 2011
The best time to buy a home is when the interest rates are at an all time low...oh, wait...that's NOW! Then, you need to find yourself a realtor who is FULL TIME and really knows their stuff...oh, wait...THAT's ME! Give me a call or shoot me an email and we can get you into a home while interest rates are still at the all time record low...around 4%, depending on your credit history.

Scott

Scott@UCSacValley.com
530-701-6674
0 votes
Suz A, Agent, Longmont, CO
Sat Sep 10, 2011
Hello Coffeemon:
There is a seasonality to home buying. Buying seems to slow to a trickle during colder months, but that doesn't mean it is necessarily the best time of the year. You might encounter less inventory to choose from in those months, too. I suppose if you define best time as the best time to negotiate, then colder might be better.

Happy hunting, Coffeemon. Hope you find the home of your dreams.

SuZ
PML
of Longmont, CO
0 votes
Mikel DeFran…, Agent, Canton, MA
Sat Sep 10, 2011
There is no " best time " Spring has more inventory but more competition for it. Winter often has less to choose from but you may get a better deal from a seller that has had no activity. The correct answer is have all your preapprovals in order... monitor the market. Know the prices and inventory so that whenever a great deal becomes available, whether it be 2 weeks or 5 months from now... jump on it aggressively.
Web Reference:  http://www.SuccessInMass.com
0 votes
Melissa Zava…, Agent, Escondido, CA
Fri Sep 9, 2011
I admire your practical side. The truth is that whenever you are ready, is the best time to buy. Lots of great prices throughout California and historically low interest rates make this a great time.
0 votes
Eric J Soder…, , Pleasanton, CA
Fri Sep 9, 2011
Well there is a sort of “off season” when it comes to real estate. Generally, Late Fall through Winter. There are fewer homes sold in many markets during this time. I believe this is due to parents not wanting to have their kids change schools during the school year.

When I researched the Pleasanton market, I found that inventory and listed pricea are fairly steady while Days On Market (DOM) raise a bit and sold prices drop a bit. This looks like a basic supply and demand situation.

Have your Realtor do some research in the area you are interested in. See if this holds true there as well. I will say that if you come across the “perfect home” don’t let it get away just because you might be able to save a small amount by waiting a few months.
With rates as low as they are, even 10k or 20k will make a very small monthly difference.

I hope this helps. Good luck with your search. Check out the research blog in the web reference to see what I'm talking about.

Best regards,

Eric Soderlund
0 votes
Bill Eckler, Agent, Venice, FL
Fri Sep 9, 2011
The best time to purchase a home is based on need and opportunity.........which could very well involve any time of the year.....
0 votes
Anna M Brocco, Agent, Williston Park, NY
Fri Sep 9, 2011
The best time to buy is when your finances are in order, are ready and need to buy....
0 votes
Scott Godzyk, Agent, Manchester, NH
Fri Sep 9, 2011
Any time you find a home that suits your needs and it is priced under market value. Spring has the sales followed by fall, then summer then winter. But anytime is good if you can find one you love
Web Reference:  http://www.ScottSellsNH.com
0 votes
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